China's market turmoil has continued despite Government intervention and a public statement from the central bank.
Within minutes of the market opening the Shanghai Composite Index fell by more than 8 percent - while the Shenzhen Component took a 5 percent hit.
The indexes ultimately closed down by 5 and 3.3 percent respectively.
After ten minutes more than 1,000 companies' shares were down by 10 percent - when shares fall by this much companies are automatically suspended from the market.
China’s securities regulator said there is “panic” in the market - and that shares have being irrationally sold off, "leading the stock market to a situation of intense liquidity."
The central bank-backed Securities Finance Corp has committed to providing market liquidity.
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Eurozone leaders have offered Greece a final chance to present a credible rescue plan - or face a likely exit from the euro.
Athens must submit a loan request and reform plan by Thursday - though in the meantime officials are devising "detailed" plans for a so-called Grexit scenario.
The leaders of all 28 EU member states will then discuss any Greek proposal at a "decisive" summit on Sunday.
European Council President Donald Tusk called it "the most critical moment" in the history of the EU.
He added that "the euro area authorities stand ready to do whatever is necessary to ensure the financial stability of the euro area as a whole".
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The majority shareholder in the St Stephens Green Shopping Centre in Dublin is to sell a 35 percent stake in the centre to try to activate much-needed re-investment there.
Tetrarch Capital, the property company run by former US marine, Micahel McElligott, is close to acquiring Millennium Park, the 330 acre business park off the Dublin Cork motorway outside Naas and home to Kerry Group’s new global research and development facility.
Tetrarch is to acquire the Nama-controlled business park for €35m, which was acquired and developed for €310m by its original developers.
Tetrarch Capital has been very active over the past two years particularly in the hotel sector and has acquired the Powerscourt Hotel in Wicklow, CityWest on the Naas Road, Mount Wolsey outside Carlow and the Mount Juliet estate in Kilkenny.
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Former Taoiseach Brian Cowen faces his second day of questioning today. He will today outline the events surrounding the bank guarantee in September 2008 and the Troika bailout two years later.
This is his second appearance, Mr Cowen spent ten hours last week answering questions about his time as Finance Minister in the run up to the crisis.
He has already hinted at what he will say today - in last week's opening statement he said the choice on September 29th 2008 was to go with the bank guarantee - or to set the country back by 25 years.
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Quinta do Lago, the luxury 2,000 acre Portuguese golf and tourism resort owned by Denis O’Brien is on the market according to informed sources in the Algarve, who also indicate that a sale may be close to a consortium from the US.
Mr O’Brien bought the resort in the late 1990s for a reported €31m and was resident there for a number of years.
Close to €30m has been invested in the resort over the past five years, specifically on its third championship golf course, the North Course.
Reports suggest that the complex could sell for €220m.
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The UK's Budget will reveal the timetable for £12bn in welfare cuts by 2017/18 has been extended by at least a year, according to Sky News.
George Osborne has already said he has found the £12bn (€16.8bn), but Sky sources say the full amount will now be delivered over a longer time frame than announced in the March Budget and envisaged before the election.
This is partly because buoyant tax revenues and new Office of Budget Responsibility projections mean the Chancellor can meet his fiscal mandate without making the welfare cuts within two years.
But there is also some pushback in Whitehall and internationally against too rapid a pace in cuts.
The Organisation for Economic Co-operation and Development (OECD) warned the two-year timetable would have an "impact on growth" this month.
Mr Osborne will set out his plans in a "bold" Budget, in which he is expected to use the Greek crisis as an argument for keeping borrowing under control.
Additional reporting by IRN
